26th Jul 2007 10:42
WPP Group PLC26 July 2007 FOR IMMEDIATE RELEASE 26 July 2007 WPP GROUP PLC ("WPP") Ogilvy Healthworld acquires Pharmax in South Korea WPP announces that its wholly-owned operating company Ogilvy Healthworld hasagreed to acquire, subject to regulatory approvals, a 70% stake in PharmaxResearch & Consulting Co., Ltd ("Pharmax"), a leading medical communications,research and consulting, and conventions agency in South Korea. Founded in 1997, Pharmax is based in Seoul and employs 66 people. Clientsinclude Boehringer Ingelheim, GlaxoSmithKline, Merck Sharp & Dohme, Pfizer andSanofi-Aventis. Pharmax's unaudited revenues for the year ended 30 June 2006 were KRW 1,423 million, with gross assets at the same date of KRW 945 million. This investment continues WPP's strategy of developing its networks in fastgrowing markets and sectors. Contact:Feona McEwan, WPP T +44 (0)20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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